COPJ vs. DZZ
COPJ (Sprott Junior Copper Miners ETF) and DZZ (DB Gold Double Short Exchange Traded Notes) are both exchange-traded funds - COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index, while DZZ is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%). Both are passively managed. Over the past 3 years, COPJ returned 34.70%/yr vs -9.06%/yr for DZZ. Their -0.25 correlation means they have often moved in opposite directions in the past. COPJ charges 0.78%/yr vs 0.75%/yr for DZZ.
Performance
COPJ vs. DZZ - Performance Comparison
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Returns By Period
COPJ
- 1D
- -0.83%
- 1M
- -1.50%
- 6M
- -14.72%
- YTD
- 0.00%
- 1Y
- 79.19%
- 3Y*
- 34.70%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 30.01%
DZZ
- 1D
- -0.55%
- 1M
- -7.58%
- 6M
- -52.15%
- YTD
- -50.53%
- 1Y
- 6.12%
- 3Y*
- -9.06%
- 5Y*
- -6.95%
- 10Y*
- -9.09%
- ALL TIME*
- -13.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.16M | $2.22M | $3.49M | |
| $5.88K | $5.95K | $21.77K |
COPJ vs. DZZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
COPJ Sprott Junior Copper Miners ETF | 0.00% | 140.63% | 11.07% | -6.47% |
DZZ DB Gold Double Short Exchange Traded Notes | -50.53% | 132.78% | -35.06% | 6.28% |
Correlation
The correlation between COPJ and DZZ is -0.35, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023 | -0.25 |
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Return for Risk
COPJ vs. DZZ — Risk / Return Rank
COPJ
DZZ
COPJ vs. DZZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and DB Gold Double Short Exchange Traded Notes (DZZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COPJ | DZZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.20 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 0.02 | +2.51 |
| Martin ratioReturn relative to average drawdown | 5.76 | 0.03 | +5.73 |
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Drawdowns
COPJ vs. DZZ - Drawdown Comparison
The maximum COPJ drawdown since its inception was -32.28%, smaller than the maximum DZZ drawdown of -96.64%. Use the drawdown chart below to compare losses from any high point for COPJ and DZZ.
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Drawdown Indicators
| COPJ | DZZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.28% | -96.64% | +64.36% |
Max Drawdown (1Y)Largest decline over 1 year | -32.28% | -81.05% | +48.77% |
Max Drawdown (3Y)Largest decline over 3 years | -32.28% | -81.05% | +48.77% |
Max Drawdown (5Y)Largest decline over 5 years | — | -81.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.05% | — |
Current DrawdownCurrent decline from peak | -23.56% | -95.37% | +71.81% |
Average DrawdownAverage peak-to-trough decline | -12.38% | -82.40% | +70.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.14% | 61.82% | -47.68% |
Volatility
COPJ vs. DZZ - Volatility Comparison
The current volatility for Sprott Junior Copper Miners ETF (COPJ) is 12.84%, while DB Gold Double Short Exchange Traded Notes (DZZ) has a volatility of 14.44%. This indicates that COPJ experiences smaller price fluctuations and is considered to be less risky than DZZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPJ | DZZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.84% | 14.44% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 39.35% | 52.18% | -12.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.09% | 170.05% | -123.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.86% | 84.19% | -48.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.86% | 64.26% | -28.40% |
COPJ vs. DZZ - Expense Ratio Comparison
COPJ has a 0.78% expense ratio, which is higher than DZZ's 0.75% expense ratio.
Dividends
COPJ vs. DZZ - Dividend Comparison
COPJ's dividend yield for the trailing twelve months is around 11.57%, while DZZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COPJ Sprott Junior Copper Miners ETF | 11.57% | 11.57% | 11.64% | 2.48% |
DZZ DB Gold Double Short Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPJ and DZZ have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DZZ has higher volatility (14.44%) compared to COPJ (12.84%). In terms of maximum drawdown, COPJ dropped -32.28% vs DZZ's -96.64%.
On 3-year performance, COPJ leads with 34.70% vs -9.06% for DZZ. On fees, DZZ is cheaper at 0.75% per year. On volatility, COPJ has been the lower-risk option at 12.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COPJ has performed better with a 34.70% return vs -9.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DZZ is cheaper with a 0.75% expense ratio, compared with 0.78% for COPJ.
COPJ has the higher dividend yield at 11.57%, compared with 0.00% for DZZ.
COPJ is categorized as Copper, while DZZ is Leveraged Commodities. COPJ tracks Nasdaq Sprott Junior Copper Miners Index, while DZZ tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%). They also come from different issuers: Sprott and Deutsche Bank. Their fees differ too: 0.78% for COPJ and 0.75% for DZZ.
COPJ currently has the higher Sharpe Ratio (1.77 vs 0.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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